Honestly it's been a challenging one for every investors sometimes it seems one should just go ahead and sell but the major fear is to sell in loss. Yeah this period there have been a lot of panic sellers due to the fluctuations in the price that's not favourable to the market. Selling now could results to a total damage but one can't predict the outcome so it's best to buy and hodl.
Someone selling in this current market situation can only record a loss if they bought at a price higher than what we are currently at; if not, there are many who are still in profit, and selling now might not be because they are losing but because they are uncertain of which phase the market is going to take, as it usually starts this way that we can just move from a bullish market down to a bearish one. Some people just want to play safe, which is what short-time traders usually do.